Thanks for the clarification… yes, that helps.
as simple as it seems I did not grasp… lol
Thanks again.!
I really like the sliding stop loss. Lock in a few pips and allows us to go after greater targets with less stress. Thanks for all the work …
Hi tymen1,
Thanks for browsing my chart. You really taught us a lot on trading.
Blaiserboy, hope we can learn great trading skills together with tymen1 and be profitable in our trading.
That is quite tool…!
I am just working to make an entry and using it…
Most helpful…!
Thanks for developing and posting it…
dave
I have learned a ton from him already and have yet to complete reading the thread the first time…! and I aint new to trading and charts… lol
His is the most in depth presentation of a concept that I have seen… and so well documented are the lessons…
I am , needless to say, very pleased top be working with this thread…
I learned how to get different time frames in metatrader… but the method is a bit wonky, I am not so sure I will do that… best to use another software methinks… not sure at this point.
Have fun today.!!
dave
One thing I wish to confirm…
I can watch a 240 minute chart, locate one of the four patterns thereon and make an entry from the 5 minute.
The reason I am asking… seems to be such a difference in those chart times…
Please clarify.
Thanks
dave
Thanks.
Reading your latest post, I have to warn you that the #811 post is a summary of [B]UMS[/B] method !
Tymen is now explaining the [B]UML[/B] method ! As soon as a summary will be necessary for it, i’ll make it if someone else don’t do. Until then i think we’re all religiously reading his post…
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
If you want to understand what we’re talking about here (UMS) then read this
Ok I’ll try to answer to that one, please correct me if i’m wrong.
We’re all looking for GOOD pattern that is reliable pattern. Remember that if you have good quality pattern you will have all the method working just well. We’re here to win PIPS !
So, looking at various timeframe help you distinguish good pattern. You can have 2 red candle on a 20mn chart and they become only one on a 40mn chart…so your hunt maybe more successful at that time. As a reverse, a larger timeframe may not show any pattern while the smaller one will be behind a tree…
So the only idea is to hunt…then why not hunting from everywhere. BUT, whatever main timeframe you use, you then go to the 5mn one to trade…
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
If you want to understand what we’re talking about here (UMS) then read this
I think you are the acknowledged expert in gathering and documenting the relevant features of the system, hopefully you have the time to continue with the summaries… they are really valuable to many people…
Thanls again.!
I opened charts for four pairs and a few different time frames for pattern searching, then I started to wonder if the higher time frames would be too much
Thanks for your reply
dave
This is a 30 minute chart of AUDUSD.
Please review it as a signal…
Would it be acceptable…?
Thanks
dave
Question re Bollinger Bands
On one of the prior posts (#372) is a chart showing two evening stars, the best pattern being when the Bollinger band is flat…
Is it so that the Band has to be flat for all patterns that we will use…?
Flat seems to be emphasized strongly for the evening star… and will that apply to others as well…
Thanks
dave
(I hope my questions are not too many or inconsequential)
To [B]FXCaribbean [/B]:
Thank you so much for replying to some of Blaiserboy’s questions.
Questions take more of my time an labour to answer properly.
You have no idea how much stess is on me to produce this thread.
But then, teaching is always stressful!
By answering the questions yourself, you are also helping yourself to learn more, because the questions make you think.
To Kenneth Lee :
I really like the sliding stop loss
I am glad you like it!!
Watch for the next chart in the present example trade!! 
To Ray 1 :
Go for it!!
Soldier on!! 
To Blaiserboy :
Vector Map
That is quite tool…!
Glad you like it. In about 50% of trades, it will give you a much better entry than just the open.
I learned how to get different time frames in metatrader… but the method is a bit wonky, I am not so sure I will do that… best to use another software methinks… not sure at this point.
I can strongly recommend Kinetic Securities of Sydney, Australia.
They use the GFT platform which is what I use and recommend.
You get the demo for as long as you want. (though sooner or later, you should open a live account.)
Your money is deposited in the Morgan Chase bank nearest to you.
(not in Australia unless you live there like I do).
You can google Kinetic Securities as follows :
“http://www.kineticsecurities.com.au/frontend/display”
That is the exact website but “www. kineticsecurities.com.au” will do.
Ask to speak to Jay Pace and tell him that Tymen sent you. (I get NO commissions for this!!)
The service is excellent.
There was a time when brokers were an issue on this thread.
I know that Vulcan Classic had a lot of issues with MT4 and he switched to the GFT platform.
Then several other posters followed.
Their work became much easier after that.
I can watch a 240 minute chart, locate one of the four patterns thereon and make an entry from the 5 minute.
The reason I am asking… seems to be such a difference in those chart times…
Please clarify.
Although you can use a 5 minute chart for a 4 hour timeframe, it is better to use a 1 hour Keltner and Starc chart to keep the proportions more accurate when jumping to so much longer timeframes.
The indicator parameters are still exactly the same as before.
…then I started to wonder if the higher time frames would be too much
You will find that as you go on in this thread, and make use of the UM, that you will not only find frequent trading patterns, but that the patterns will make at least as many pips, if not more, than the long term trading patterns.
You will make your money so much quicker than long term trading.
This will put great envy into all those indicator traders who are using their favourite indicators on daily charts!!
I will answer your last questions on a new post.
Sorry, I do not see anything in the way of a pattern here at all.
Not only that, but the last candles cross over the mid Bollinger band.
This is dangerous for trading.
Your BB has narrowed at this time - there is little range to make any pips anyway.
Is it so that the Band has to be flat for all patterns that we will use…?
Answer - NO!
But the evening star is a [U]shorting pattern[/U] and when we see the BB expanding, we have a [U]long breakout[/U]. (the BB is shaping like a trumpet).
Unless you are very careful, it is not wise to short a pattern when the price action is going so obviously long.
In such a case, the [U]3 green soldiers pattern [/U]is the ideal one to trade.
I have chosen to illustrate that pattern next because it has great potential.
Thanks for those replies…
I can see that I have a lot of reviewing and studying to do…
Dealbook is setting up as I type this (more studying…! ).
Have a great evening and thanks again.!
Not really. It is said that it shouldn’t be “trumpet”. This negative doesn’t mean it has to be flat. This picture show 4 candles up to the BB. Again if you refer to the fact that we’re looking for good quality pattern it also means we are looking for good quality at the best time.
IMHO only answers can be inconsequential.
FXCaribbean
"Don’t go where there is a path. Open a new one and leave a trail".
If you want to understand what we’re talking about here (UMS) then read this
[B]Now on to the next exciting chart of this long engulfing trade :[/B]
The 5 minute Starc band chart continues…
Wow! Look at this! >>>
By tymen1 at 2008-07-24
From where we left off…
The price had moved up to 09 and the double stop loss was moved to 04.
We continue…
The price action continues to go up.
The price rises to 14
This is 5 pips higher.
We move the double stop loss 5 pips to 09
The price rises to 24
This is 5 pips higher.
We move the double stop loss 5 pips to 19
The stop loss is always manually shifted exactly 5 pips behind the price action.
The price rises just a little more then suddenly [U]drops[/U].
It continues to drop [U]right into the 19 double stop loss!![/U]
That is the end of the trade!
A really good trade.
Look on the chart to see how many pips we made.
Wow!!
A total of 45 pips!!
45 pips made 65 minutes - just over an hour!!
[B]And we have not even started on the retraces!![/B]
You can see the power of the [B]UM[/B].
[B]Next exciting episode - the pips made on the retraces.[/B]
Thanks for that
I have used Bollinger Bands and Keltner channel in another chart setup, quite a different application, I think that is why the questions…
I really appreciate the precision that we are using with the vector etc
This is quite a learning experience
thanks again
Do not rush yourself, but rather, cement the concepts solidly.
There is a lot more to come yet!!
We will be looking at an interesting version of the Stochastic indicator!
Not to use it - just as a guide. 